Rio Tinto hires CFO from Danish shipper Maersk

June 12 (Reuters) – Major miner Rio Tinto named Jacob Stausholm, formerly CFO of Danish shipping company A.P. Moller-Maersk, to replace outgoing financial boss Chris Lynch when he retires in September, the Anglo-Australian mining company said on Tuesday.

Lynch’s retirement was announced last September, triggering a search for a replacement to maintain the financial strength of a company with the strongest balance sheet of the major miners.

Stausholm stepped down as CFO at Moller-Maersk in March after the company decided to separate the finance role from its IT and digital transformation function.

His former boss said he had been one of the drivers of the Danish company's strategic transformation from a broader conglomerate including an oil business to a more focused shipping company.

Analysts are unanimous that Rio Tinto has a very strong balance sheet, but some bankers say the company is under increasing pressure to buy assets and diversify its portfolio after a series of sales and a mounting pile of cash.

Following Tuesday's announcement, Rio Tinto shares were down 0.5 percent at 4,397 pence on the London Stock Exchange.